Forex markets opened cautiously on Monday as traders assessed geopolitical risks and key currency pairs showed mixed momentum ahead of the week.
Key Opening Levels
The EUR/USD opened Monday trading at 1.1404, while the USD/JPY held near 161.68. GBP/USD traded at 1.3390, with USD/CHF at 0.8083 and USD/CAD at 1.4162. AUD/USD and NZD/USD opened at 0.9651 and 0.5761 respectively.
Geopolitical Risk Weighs on Markets
Asian markets opened with caution following a tense weekend in the Middle East, where escalating conflicts raised concerns over global energy supplies and economic stability. The risk-off tone supported the US dollar against risk-sensitive currencies like the euro and Australian dollar.
Implications for Traders
With central bank policy divergence and inflation dynamics remaining in focus, EUR/USD traders will monitor upcoming ECB commentary and US CPI data. The pair faces resistance around 1.1450 and support near 1.1350.
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Risk warning
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